GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Up – What’s Next?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $65.89, but opened at $69.07. GraniteShares 2x Long COIN Daily ETF shares last traded at $62.84, with a volume of 8,125,942 shares.

GraniteShares 2x Long COIN Daily ETF Stock Down 15.3 %

The stock’s fifty day simple moving average is $32.78 and its 200-day simple moving average is $39.68.

Hedge Funds Weigh In On GraniteShares 2x Long COIN Daily ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter valued at $122,000. IMC Chicago LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter valued at $2,412,000. Finally, Citigroup Inc. bought a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth approximately $8,079,000.

About GraniteShares 2x Long COIN Daily ETF

The GraniteShares 1.5x Long Coinbase Daily ETF (CONL) is an exchange-traded fund that mostly invests in financials equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Coinbase stock. CONL was launched on Aug 9, 2022 and is managed by GraniteShares.